Multi-asset enterprise trading technology solutions provider oneZero has secured the services of Stephen Totten as its director of quantitative analysis.
The fresh hire comes at a time when oneZero is pouring heavy investments into its analytics franchise, focusing on solutions for institutional brokers, regional banks, asset managers, PTF’s and their EcoSystem liquidity partners.
Stephen brings to the role more than two decades of experience within the institutional FX space. He leaves a long tenure of 12 years at UniCredit, a pan-European commercial bank that offers its services in Italy, Germany, Central and Eastern Europe. There he worked his way up through several senior roles with the firm, culminating with the position of Global Head of eFX.
Steve’s responsibilities at UniCredit included the provision of electronic foreign exchange services to clients, sales and distribution, pricing and both principal and agency trading.
Other stops include working as a portfolio manager at Citadel Investment Group for six years, where he was responsible for developing and managing FX and Macro systematic trading strategies. Earlier in his career, he was an associate on the FX Desk at Morgan Stanley.
Commenting on his new position, Steve said: “I am excited to be joining a company that’s pushing the boundaries in FX technology. oneZero have long recognized that knowledge that can be gleaned through analytics is fundamental to achieving the objectives of their clients, and have a fantastic Data Source product. I look forward to working on building the next generation of analytics and automated optimization tools for our clients and liquidity providers to further enhance their pricing and risk management.”
Phil Weisberg, EVP of Strategic Planning and Partnerships at oneZero added: “We are thrilled that Steve has joined us at oneZero. At oneZero, we have always looked at aggregation as one part of a holistic ecommerce solution that also includes customer pricing, risk management and the feedback mechanism which analytics provide to enable our clients’ business strategy to impact real time decisions.”
oneZero’s Data Source Insights product has been at the forefront of the broker-dealer trading technology provider’s activities. Among other things, the product provides a glimpse into the use of one of FX market’s most common, and potentially abusive, practices.
The ‘last look’ allows market makers get a final opportunity lasting a few milliseconds to reject an order after a client commits to a trade at a quoted price.
With oneZero Insights, the analysis results are available to the clients along with recommendations on how to configure their Institutional Hub to achieve their franchise objectives. Insights analytics can be used to create bespoke pricing functions for clients’ customers, segment their customer flow, deploy risk management and hedging strategies, and build liquidity pools for externalized hedges.
